Murphy asked:


I pulled some indexed labor data from the Bureau of Labor Statistics and posted it on my 360 blog thing here. Please take a look at my blog entries, and I am interested in having a dialogue about this. My position is that there is no reasonable justification for the wealth grab that the data reveals.

Some highlights:

+ Output per hour is up more than 260%.
+ Hours worked is up 90%. This is hard to believe, begs further investigation.
+ Output per hour multiplied by hours worked, the total output nut, is up 580%.
+ Hourly compensation is up 170% (on real basis)
+ Labor’s share of productive output has fallen 4%. From what initial % is unknown.
+ Non-Labor Share of productive output (re: Profits) is up 4,042%.
kristy, check my blog. I had a difficult time getting precise definitions at BLS. Some of your questions, which are obviously valid, are answered there. The others are a mystery of the data series as presented. The presentation of the data at BLS is, shall we say flatteringly, not transparent.

Noah

Murphy asked:


I pulled some indexed labor data from the Bureau of Labor Statistics and posted it on my 360 blog thing here. Please take a look at my blog entries, and I am interested in having a dialogue about this. My position is that there is no reasonable justification for the wealth grab that the data reveals.

Some highlights:

+ Output per hour is up more than 260%.
+ Hours worked is up 90%. This is hard to believe, begs further investigation.
+ Output per hour multiplied by hours worked, the total output nut, is up 580%.
+ Hourly compensation is up 170% (on real basis)
+ Labor’s share of productive output has fallen 4%. From what initial % is unknown.
+ Non-Labor Share of productive output (re: Profits) is up 4,042%.
since 1950, as far back as the BLS data series goes.

Alexis